Restoring a balanced budget for the 2012 fiscal year is one of Creighton’s three goals over the next 16 months, the Rev. John Schlegel, S.J., said Tuesday.

In his state of the university address during the Founders Day Convocation Feb. 9, the university president also outlined two other goals: expanding research opportunities for students and faculty and using new technology to communicate Creighton’s story effectively.

“To realize this vision, we must clearly and objectively assess our current efforts and have the courage to make the changes needed to continue our forward momentum,” Schlegel said. “We must prioritize programs and services in keeping with our role and mission, permitting only those activities that need to be done and that Creighton and its people do well.”

Current economic conditions have made the balanced budget objective a priority, he said.

“With the economic stresses of the past two years, our margin for error has shrunk, and thus, the consequence of each decision we make becomes far more significant than it did yesterday,” Schlegel said.

In order to achieve a balanced budget, Schlegel explained everyone needs to ask what they can stop doing, as opposed to what to do or what not to do. This question, he said, is a harder one to answer, but one that will help cut costs and prioritize what is important.

“This prioritization process will not be quick or painless, but it is essential to position Creighton for continued success,” Schlegel said.

Even with this prioritization, Schlegel wants the university to move forward. This includes expanding enrollment and making “unfunded” discount rates for undergraduate tuition more feasible.

Other topics included raising student scholarship endowments and “faculty compensation and development.”

A review of the core curriculum and building a new sophomore residence hall, among other things, were also topics Schlegel said would be the focus of the university in years to come.

Schlegel also reviewed the past 10 years of Creighton growth and development.

The number of applicants in 2009 increased 82 percent from 2001, rising from just over 2,600 to 4,500. The School of Nursing has increased its students from 361 to 589, including 55 students in the new nursing doctoral program. The School of Pharmacy increased 44 percent from 737 students to 1,062.

Schlegel also highlighted Creighton’s growth in minority enrollment. Almost one in four students is either an international student or a minority student.

“While we have seen significant growth in this area and enroll the largest percentage of minority students of any school in Nebraska, I think we can do better,” Schlegel said.

Following Schlegel’s speech, staff and faculty members were recognized for their service to Creighton. Twenty-one professors were honored for their 25 years of service.